Williams-Sonoma 3Q Profit Up, But Shares Fall

Williams-Sonoma (NYSE:WSM) tumbled nearly 8% despite reporting slightly better-than-expected third-quarter earnings and raising its full-year guidance, driven primarily by stronger same store sales in its outlets and Pottery Barn Kids stores. The specialty home goods retailer, which also operates Pottery Barn and West Elm, posted net income of $36.5 million, or 34 cents a share, compared with $7.33 million, or 7 cents a share, in the same quarter last year. Excluding special items, the company earned 35 cents a share, ahead of average analyst estimates polled by Thomson Reuters of 31 cents.